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Part of its strategy to build a portfolio of geographically-balanced premium brands.
November 15, 2021
By: Christine Esposito
Editor-in-Chief
Global beauty group L’Occitane International S.A., ranked No. 18 on Happi's 2021 International Top 30 Report, has acquired a majority stake in fast-growing Sol de Janeiro, a US-based premium body care brand that focuses on ingredients sustainably sourced from Brazil. L’Occitane will acquire an indirect equity interest of approximately 83% in Sol de Janeiro, based on a valuation of $450 million, funded by the group’s cash on hand and existing banking facilities. Upon closing, Sol de Jane...
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